Last week, an accumulation zone was forming. Today, there is a way out of this zone. If consolidation occurs, the next goal of the reduction will be the weekly control zone of 1.3169-1.3152. The upward movement should be considered for the occurrence of absorption pattern in the direction of strengthening the Canadian dollar.
Working in the downward direction may become the main one at the end of the current month and the beginning of the next. There is potential weekly movement of another 66 points, which gives an opportunity for sales after the formation of the correction.
An alternative model will be developed if the closure of today's American session occurs above the 1/2 WCZ. The false breakout pattern of yesterday's low will be a strong signal for the pair to grow.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
